Presentation on theme: "The Sultan of Steel Born in Dunfermline, Scotland November 25, 1838 Father was a handloom weaver Lived originally in a one room house Emigrated."— Presentation transcript:
The Sultan of Steel
Born in Dunfermline, Scotland November 25, 1838 Father was a handloom weaver Lived originally in a one room house Emigrated to the US in 1845
Andrew arrived in Alleghany Pennsylvania. $1.20 a week for 72 hours. Ohio Telegraph Company
Began as a telegraph messenger in 1849 $2.50 per week. Impressed local businessman with his competency and intellect. Rose through the business ranks.
Employed as Scotts personal assistant for $35 a week in Scott became involved in rampant corruption Helped Carnegie earn some crucial capital for future investments Stayed part of Carnegie’s business life well afterwords.
Increased steel production Pittsburgh became center of production Carnegie invested with other friends to own a steel rolling mill After the war, Carnegie focused entirely on owning his steel mills $42,000 in 1863
Carnegie was a giant of industry Bought steel mills at low prices Used vertical integration to increase profit Bought iron ore fields in Michigan
By 1900 Carnegie was making 45 million a year. Carnegie was bought out by J.P Morgan in $485 million Carnegie was the richest man in the world.
Donated $10 million to Carnegie Teacher’s pension fund. Carnegie Endowment for International Peace Carnegie Corporation Carnegie dies in 1919
Legacy “ He that cannot reason is a fool. He that will not is a bigot. He that dare not is a slave.” “I resolved to stop accumulating and begin the infinitely more serious and difficult task of wise distribution.” “Mr. Morgan buys his partners; I grow my own.”
CONTENT "American Experience." PBS. PBS, Web. 16 Feb "Andrew Carnegie." Spartacus. Spartacus, Web. 16 Feb "Foundation History." Carnegie Corporation of New York. Carnegie Corporation, Web. 17 Feb PICTURES "Andrew Carnegie." Wikimedia. Wikipedia, Web. 16 Feb "Dismal Scientist." Datapoints. Datapoints, Web. 17 Feb